Purrfect Pets had $6,000 of supplies at the end of October. During November, the company bought $2,000 of supplies. At the end of November, the company had $1,000 of supplies remaining. Which of the following statements is not true?

Answer

		During November, the company used $7,000 of supplies.
		Supplies should be reported at $1,000 on the balance sheet.
		An expense should be debited for $7,000 in November.
		An asset should be debited for $1,000 in November.